John Maynard Keynes concluded that investment spending is determined by
a. business confidence.
b. economic expectations.
c. psychological perceptions about the economy.
d. All of the above are correct.
d
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You bought a subscription for an online magazine and shared your log-in details with a friend. Your friend is a ________ in this case
A) free-rider B) rent seeker C) speculator D) hedger
Lower personal income taxes
A) decrease disposable income. B) decrease aggregate demand. C) increase transfer payments. D) increase aggregate demand.
One of the primary advantages of using econometrics over typical results from economic theory, is that
A) it potentially provides you with quantitative answers for a policy problem rather than simply suggesting the direction (positive/negative) of the response. B) teaching you how to use statistical packages C) learning how to invert a 4 by 4 matrix. D) all of the above.
If the minimum wage were abolished, the employment of unskilled and inexperienced workers would
A. rise. B. fall. C. stay the same.